DS Smith
DS Smith is a British-origin multinational packaging business specializing in fibre-based packaging, paper production, recycling, and related supply-chain solutions.
Last updated August 31, 2026
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Overview
DS Smith was a British multinational packaging company established in 1940 by cousins David Gabriel Smith and David Solomon Smith. It began by manufacturing cartons and developed through a combination of organic expansion and acquisitions into an integrated fibre-based packaging group. Its activities included the design and manufacture of corrugated boxes, consumer and industrial packaging, paper products, recycling services, and packaging supply-chain solutions. The company expanded beyond its original carton-making base through acquisitions in paper manufacturing, packaging, envelopes, and distribution. Important stages included the purchases of St Regis Paper Company in 1986, Kemsley Paper Mill in 1988, Kaysersberg Packaging in 1991, John Dickinson in 1996, and Linpac Containers in 2004. In 2011, DS Smith sold its Spicers office-products wholesaling business, helping sharpen its focus on packaging. The 2012 acquisition of Svenska Cellulosa Aktiebolaget's packaging division substantially increased its international scale, while the 2015 purchase of Duropack strengthened its presence in central and eastern Europe. DS Smith positioned itself around recyclable, fibre-based packaging and the reduction of unnecessary material in supply chains. Its customers have included businesses in consumer goods, food and beverage, e-commerce, retail, industrial manufacturing, and logistics. The group operated packaging factories, paper mills, and recycling facilities across Europe and the United States, with sites in 37 countries according to the reference material. Its offering extended from standard corrugated cases to engineered packaging intended to improve transport efficiency, automate packing, reduce void space, and support circular material flows. The company was listed on the London Stock Exchange from the late 1950s and became a constituent of the FTSE 100 Index in December 2017. In the 2020s it continued investing in production capacity and pursuing consolidation in the European packaging market. In February 2024, it announced a €13 million investment in two Austrian facilities, Margarethen am Moos and Kalsdorf bei Graz, with the stated objective of increasing capacity by up to 20 percent. DS Smith's independent public-company history ended after a takeover process in 2024 and 2025. The board first indicated in March 2024 that it supported a proposed combination with Mondi. In April 2024, however, International Paper agreed a larger all-share transaction valued at approximately £5.8 billion at announcement. The transaction received court approval on 30 January 2025 and was completed in February 2025. DS Smith therefore ceased to be an independently listed London company, while its operating businesses continued within International Paper.
History
DS Smith originated in 1940 when cousins David Gabriel Smith and David Solomon Smith established a business to manufacture cartons. The company later became publicly traded, first being listed on the London Stock Exchange in the late 1950s. Its early development was associated with the expansion of carton and paper manufacturing, but its later identity was shaped by a series of acquisitions that connected paper production, packaging conversion, recycling, and distribution. In 1986, DS Smith acquired St Regis Paper Company, adding paper-manufacturing capacity. Two years later it bought Kemsley Paper Mill. The group continued broadening its packaging platform with the 1991 acquisition of Kaysersberg Packaging. In 1993 it purchased Spicers, an office-products wholesaler, and in 1996 it acquired John Dickinson, an envelope manufacturer. The purchase of Linpac Containers in 2004 added a substantial corrugated-packaging business. During the 2010s, DS Smith increasingly concentrated on packaging and international scale. It sold Spicers for £200 million in July 2011. In July 2012 it acquired the packaging division of Svenska Cellulosa Aktiebolaget for a net consideration of approximately €1.6 billion. That transaction significantly expanded the company's packaging operations and geographic reach. In May 2015, DS Smith completed the acquisition of Duropack for approximately €300 million, strengthening its position in central and eastern European packaging markets. The company became a FTSE 100 constituent in December 2017. The resulting group operated an integrated fibre-based model. Its businesses included corrugated packaging plants, paper mills, recycling operations, and packaging-design and supply-chain activities. The group served consumer-product companies, food and beverage producers, retailers, e-commerce businesses, industrial manufacturers, and logistics operators. Its strategic proposition emphasized paper-based packaging that could be recycled, reduced, or redesigned to improve material efficiency and transport performance. DS Smith continued to expand its regional footprint during the 2020s. In August 2023, it was reported to have acquired Bosis doo, a packaging company based in Valjevo. In February 2024, it announced a €13 million investment in two Austrian facilities, Margarethen am Moos and Kalsdorf bei Graz. The investment was intended to raise production capacity by as much as 20 percent and support growth in eastern Europe. The company's final period as an independent listed group was dominated by takeover negotiations. In March 2024, its board indicated agreement with a proposed £5.1 billion combination with Mondi. In April, DS Smith agreed to a larger all-share transaction with International Paper, valued at approximately £5.8 billion at announcement. The transaction was approved by the court on 30 January 2025 and completed in February 2025. DS Smith was therefore removed from the London Stock Exchange as an independent listed company, while its operations became part of International Paper.
- 2025
Acquisition completed
[1]Court approval was obtained on 30 January and the International Paper acquisition completed in February, ending DS Smith's independent stock-market listing.
- 2024
Austrian capacity investment
[1]The company announced a €13 million investment in two Austrian sites, with capacity expected to increase by up to 20 percent.
- 2024
International Paper transaction agreed
[1]DS Smith agreed to an approximately £5.8 billion all-share acquisition by International Paper after earlier discussions with Mondi.
- 2023
Bosis acquisition announced
[1]DS Smith was reported to have acquired Bosis doo, a packaging company based in Valjevo.
- 2017
Joins the FTSE 100
[1]DS Smith became a constituent of the FTSE 100 Index in December.
- 2015
Duropack acquisition completed
[1]DS Smith completed its acquisition of Duropack for approximately €300 million.
- 2012
SCA packaging division acquired
[1]The company acquired the packaging division of Svenska Cellulosa Aktiebolaget for approximately €1.6 billion net.
- 2011
Spicers sold
[1]DS Smith sold its office-products wholesaling business, Spicers, for £200 million in July.
- 2004
Linpac Containers acquired
[1]The completed purchase of Linpac Containers strengthened the company's corrugated-packaging business.
- 1996
John Dickinson acquired
[1]DS Smith acquired envelope manufacturer John Dickinson.
Products and positioning
A large integrated fibre-based packaging group focused on recyclable paper packaging, circularity, material efficiency, and packaging innovation for industrial, consumer, retail, and e-commerce customers.
Industrial and transit packaging
Corrugated packaging
Corrugated cases and engineered fibre-based packaging formed the core of DS Smith's operations. These products were designed for transport, storage, palletisation, retail distribution, and protection of manufactured goods. The range could be adapted to product dimensions, handling systems, printing requirements, and supply-chain conditions.
Consumer packaging
Consumer and retail-ready packaging
DS Smith supplied paper-based packaging for consumer products and retail environments, including formats intended to move from transport directly onto the sales floor. These solutions combined product protection, branding, shelf presentation, and material-efficiency objectives for retailers and consumer-goods companies.
E-commerce packaging
E-commerce packaging
The e-commerce offering addressed the requirements of parcel distribution, including efficient sizing, protection during multiple handling stages, easy opening, and opportunities for paper-based recyclability. Packaging design and optimisation services were used to reduce empty space and unnecessary material in direct-to-consumer shipments.
Paper products
Paper and containerboard
Through its paper-manufacturing operations, DS Smith produced paper materials used in fibre-based packaging systems. This upstream capability supported integration between recovered fibre, paper production, corrugated conversion, and recycling, although the precise product mix varied by facility and market.
Recycling and circularity
Recycling services
DS Smith operated recycling activities associated with the collection, sorting, processing, and reuse of recovered fibre. These services supported its circular packaging proposition by linking used paper and cardboard with the manufacture of new paper-based packaging.
Brand decisions
2024
Investment in Austrian facilitiesStrategyBackground
DS Smith identified growth opportunities in eastern Europe and continued investing in sustainable paper-based packaging capacity.
Action taken
The company announced a €13 million investment in its Margarethen am Moos and Kalsdorf bei Graz facilities, targeting capacity growth of up to 20 percent.
Aftermath
The investment was presented as a capacity and growth initiative, but the available reference material does not provide later operating results.
Planned investment. €13 million (Announced 19 February 2024)
2024
Agreement with International PaperM&ABackground
After the board had indicated agreement with a proposed Mondi transaction, International Paper presented a larger all-share offer for DS Smith.
Action taken
DS Smith agreed to the proposed International Paper combination, valued at approximately £5.8 billion at announcement.
Aftermath
The transaction received court approval in January 2025 and completed in February 2025, ending DS Smith's status as an independent listed company.
Reported transaction value. Approximately £5.8 billion (Agreement announced April 2024)
2015
Duropack acquisitionM&ABackground
The acquisition supported DS Smith's expansion in central and eastern European packaging markets.
Action taken
DS Smith completed the purchase of Duropack.
Aftermath
Duropack became part of DS Smith's broader corrugated-packaging network.
Acquisition consideration. Approximately €300 million (May 2015)
2012
Acquisition of SCA packaging divisionM&ABackground
DS Smith sought to expand its international packaging scale and strengthen its integrated paper and packaging platform.
Action taken
The company acquired Svenska Cellulosa Aktiebolaget's packaging division.
Aftermath
The transaction substantially broadened DS Smith's European packaging footprint.
Net acquisition consideration. Approximately €1.6 billion (July 2012)
2011
Sale of SpicersM&ABackground
The office-products wholesaling business was outside the company's increasingly focused packaging strategy.
Action taken
DS Smith sold Spicers for £200 million in July 2011.
Aftermath
The disposal enabled DS Smith to concentrate more closely on packaging and related paper-based activities.
Sale consideration. £200 million (July 2011)
Recent events
DS Smith and One Tree Planted partner on tree planting[3]
Reported:
DS Smith is partnering with One Tree Planted to plant more than 50,000 trees across Europe and North America over five years.
DS Smith announces proposed sale of De Hoop paper mill[4]
DS Smith announced the proposed sale of its De Hoop paper mill in the Netherlands to De Jong Packaging for EUR 50 million. The sale remained subject to customary closing conditions, including works council consultation.
DS Smith appoints Johan van Baarle as Paper Division Sales Director[5]
DS Smith announced Johan van Baarle's appointment as Sales Director of its Paper Division, responsible for paper sales across Europe and North America.
DS Smith launches Circular Design Principles[6]
Reported:
DS Smith launched its Circular Design Principles, developed with the Ellen MacArthur Foundation to support companies in designing packaging for reuse and recyclability.
DS Smith appoints Rogier Gerritsen to lead Recycling Division[7]
DS Smith announced Rogier Gerritsen's appointment as Managing Director of its Recycling Division. He was scheduled to transition into the role in October; Jonathan Silk would serve as interim managing director from August to October.
Liquibox completes acquisition of DS Smith's plastics business[8]
Reported:
Liquibox completed its acquisition of DS Smith plc's plastics business, including its rigid and flexible packaging divisions.
DS Smith opens Indiana box manufacturing plant[9]
DS Smith opened a box manufacturing plant in Lebanon, Indiana, with capacity to produce more than 17 million square feet of lightweight recyclable packaging per day.
DS Smith announces proposed acquisition of Duropack[10]
Reported:
DS Smith announced a proposed acquisition of the Duropack business for approximately €300 million. The transaction was subject to competition clearance, which DS Smith expected in calendar Q2, with completion shortly thereafter.
Sources12 sources
- 1DS Smithen.wikipedia.org
- 2DS Smith official websitedssmith.com
- 3DS Smith 与 One Tree Planted 合作植树lesprom.com
- 4DS Smith宣布拟出售De Hoop造纸厂paperage.com
- 5DS Smith任命Johan van Baarle为纸业部门销售总监paperage.com
- 6DS Smith推出循环设计原则business-review.eu
- 7DS Smith任命Rogier Gerritsen负责回收事业部paperage.com
- 8Liquibox完成收购DS Smith塑料业务prnasia.com
- 9DS Smith 在印第安纳州开设纸箱制造厂paperage.com
- 10DS Smith宣布拟收购Duropackeuwid-paper.com
- 11DS Smith announces proposed acquisition of Duropack for Euro 300 millionlesprom.com
- 12DS Smith opens Box Manufacturing Plant to produce more sustainable boxesbakeryandsnacks.com
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